Discounted Cash Flow (DCF) Analysis Levered
NanoVibronix, Inc. (NAOV)
$2.33
-0.19 (-7.54%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.32 | 0.53 | 0.62 | 1.70 | 0.75 | 1.13 | 1.70 | 2.55 | 3.82 | 5.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -3.55 | -3.87 | -3.39 | -4.37 | -7.04 | -8.10 | -12.16 | -18.26 | -27.41 | -41.16 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.01 | -0.01 | -0.02 | -0.04 | -0.02 | -0.03 | -0.04 | -0.06 | -0.10 | -0.14 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -3.56 | -3.89 | -3.41 | -4.41 | -7.05 | -8.12 | -12.20 | -18.32 | -27.51 | -41.31 |
Weighted Average Cost Of Capital
| Share price | $ 2.33 |
|---|---|
| Beta | 0.869 |
| Diluted Shares Outstanding | 1.42 |
| Cost of Debt | |
| Tax Rate | -0.65 |
| After-tax Cost of Debt | 428.40% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.538 |
| Total Debt | 0.08 |
| Total Equity | 3.31 |
| Total Capital | 3.39 |
| Debt Weighting | 2.39 |
| Equity Weighting | 97.61 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.32 | 0.53 | 0.62 | 1.70 | 0.75 | 1.13 | 1.70 | 2.55 | 3.82 | 5.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -3.55 | -3.87 | -3.39 | -4.37 | -7.04 | -8.10 | -12.16 | -18.26 | -27.41 | -41.16 |
| Capital Expenditure | -0.01 | -0.01 | -0.02 | -0.04 | -0.02 | -0.03 | -0.04 | -0.06 | -0.10 | -0.14 |
| Free Cash Flow | -3.56 | -3.89 | -3.41 | -4.41 | -7.05 | -8.12 | -12.20 | -18.32 | -27.51 | -41.31 |
| WACC | ||||||||||
| PV LFCF | -6.85 | -8.68 | -10.99 | -13.92 | -17.63 | |||||
| SUM PV LFCF | -58.06 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 18.57 |
| Free cash flow (t + 1) | -42.13 |
| Terminal Value | -254.28 |
| Present Value of Terminal Value | -108.50 |
Intrinsic Value
| Enterprise Value | -166.57 |
|---|---|
| Net Debt | -2.63 |
| Equity Value | -163.93 |
| Shares Outstanding | 1.42 |
| Equity Value Per Share | -115.47 |